3DICON CORP 4
4 · 3DICON CORP · Filed Mar 28, 2016
Insider Transaction Report
Form 4
3DICON CORPTDCP
OCONNOR JOHN MICHAEL
Director
Transactions
- Award
Series B Convertible Preferred Stock
2016-03-24+50,149→ 50,149 total(indirect: See Remarks)From: 2016-03-24→ Common Stock (95,985,186 underlying)
Footnotes (4)
- [F1]Each share of Series B Convertible Preferred Stock is convertible into 1,914 shares of common stock.
- [F2]Pursuant to certain Securities Purchase Agreements dated December 11, 2015, 3DIcon Corporation (the "Company") had agreed to issue, and on March 24, 2016 issued, to certain officers, directors, consultants and service providers (collectively, "Recipients") and the Recipients had agreed to accept, and on March 24, 2016 received, shares of Series B Preferred Stock in consideration for the satisfaction, in lieu of cash payment, of an aggregate of $1,105,402.72 owed by the Company to the Recipients. Among the Recipients was the law firm Newton, O'Connor, Turner & Ketchum, P.C., of which the Reporting Person, a Director of the Company, is a partner and shareholder, which received 50,149 shares of Series B Preferred in satisfaction of $52,791.49 owed to it for services provided to the Company. The right to convert the Series B Preferred Stock is limited by a 4.99% beneficial ownership limitation.
- [F3]None.
- [F4]The price of the derivative security was not determined for this transaction as the issuance reported was made in consideration for the settlement of amounts owed to Newton, O'Connor, Turner & Ketchum, P.C, a law firm of which the Reporting Person, a Director of the Company, is a partner and shareholder.